In a fast-paced and rapidly changing business landscape, achieving professional success requires more than just innate talent and ambition. It demands a comprehensive understanding of key principles, strategies, and practices that drive organisations forward. This is where a degree in business management comes into play, offering aspiring individuals a solid foundation and a competitive edge to navigate the complex world of commerce.

Whether you’re a fresh graduate or a seasoned professional looking to enhance your career prospects, obtaining a degree in business management can open doors to a multitude of opportunities and pave the way for long-term success.

In this article, we will explore the immense value a degree in business management offers, shed light on the diverse skills, knowledge, and share experiences that await those who embark on this transformative journey.

What is a business management degree?

But first, let’s better understand what business management degrees are, and what they offer. A degree in business management covers various aspects of business management, such as finance, marketing, sales and business administration. It equips students with relevant skills, possibly applied to managerial positions in both private and public sectors, including non-profitable organisations.

In short, a business management degree makes one versatile, adapting to varied situations.

Why study business management?

Business studies has always been a popular choice amongst many students, and is the biggest discipline in the UK. According to , 16.3% of students in the UK higher education system were studying a business and management course in 2019.

Against other fields of study, there are tons of reasons why people choose business management. Let’s explore some of the more compelling ones on why students would take to this route.

1) Keeping career options wide open

Pursue a business management degree to get a valuable educational qualification while deciding on a career path or plan. It is a step forward that powers you to leapfrog three steps ahead at a later stage.

For the dexterity a business management degree offers, the apt exposure to different fields allows you to make a nimble switch between them, should you discover that a certain specialisation does not interest or satisfy you. This is a great option as precious time, money and effort invested into your education will not go in vain, and you don’t have to stay in a field or specialisation that isn’t you or isn’t for you.

2) Staying employable

A business management degree equips you with industry-relevant skills and knowledge that make you highly employable.

A postgraduate survey done by (QILT) in 2020 revealed that the Bachelor of Business was the top-performing 3-year degree programme for graduates finding full-time employment.

Furthermore, an estimated three in four people with a business and management major secured employment upon graduation, reinforcing the value of business graduates.

All employers require professionals to perform vital administrative duties – and it involves knowledge of areas such as human resource management, accounting, marketing and more. Therefore, business majors are always in demand in the job market.

3) Learn how to run a business

If you have plans to start and run a business, a business management degree is great for you. You can learn core skills necessary to run an organisation, such as accounting, finance and marketing. Furthermore, you can improve on your entrepreneurship and leadership skills.

Even if you don’t plan to own a business, you will gain valuable knowledge and useful skills to manage parts of businesses, such as a small business or a franchise.

As a fresh graduate, your career path could be undecided. It is likely that you may face a couple of job changes before you finally find a career that best suits you. Hence, being diversely skilled is a great advantage for you to explore better job opportunities when they present themselves.

Top 5 Career options to pursue after a business management degree

Now that we’ve covered why it may be a good idea to study business management courses, let’s take a look at the top 5 careers that await business management degree holders

1) Project Manager

Project managers typically plan and oversee business projects for organisations. Their duties include managing team members, scheduling meetings to chart progress, and tracking performance. They also hold a huge responsibility of ensuring that projects finish on time, and in alignment with the goals of the organisation.

2) Business Manager

A business manager’s role includes evaluating, assessing and implementing business strategies to ensure that the organisation works optimally and produces quality results. They are in charge of many areas, such as asset management, operation management and employee management.

3) Marketing Manager

Marketing managers work closely with their executives to devise comprehensive marketing strategies to increase leads and drive sales. They are responsible for tracking marketing efforts, analysing data, supervising their team and training their members for growth.

4) Business development manager

A business development manager’s duties include seeking new business opportunities and building client relations and connections with businesses and professionals to increase market share and product reach.

5) Certified Public Accountant

Certified public accountants (CPAs) generate financial records, statements and documents for their clients. They often work in a management role to oversee a team of accountants, and are responsible for their growth and performance.

What is the course duration for a business management programme?

Business management is broad, and you can earn it at the ²ú²¹³¦³ó±ð±ô´Ç°ù’s to postgraduate levels. The type of course you choose to study will affect the time taken to obtain a degree, and it varies greatly – depending on your career goals and resources.

Therefore, it is best to carefully research the programme that you wish to enrol in, and find out crucial details such as – the entry requirements, programme structure, course length and if it offers part-time studies.

However, if you are just venturing into the business management, it is compulsory to complete your ²ú²¹³¦³ó±ð±ô´Ç°ù’s first, before pursuing postgraduate qualifications.

A ²ú²¹³¦³ó±ð±ô´Ç°ù’s degree in business management takes approximately four years to complete if you study full-time. Fortunately, more and more online business degrees allow for convenient and customised learning experiences with a shorter course duration.

Furthermore, many educational institutes have realised the need to tune their courses and offer them part-time, to cater to working professionals who wish to upgrade themselves, but do not have time for full-time studies.

The 51±¬ÁÏ Business School (MBS) offers a range of business courses awarded by globally-recognised university partners ranging from diplomas, to doctorate levels, preparing students for career commencement and advancement in a complex and competitive business environment.

Its degree programmes such as the Bachelor of Science (Hons) in Business Management and Finance awarded by Bangor University, UK have full-time and part-time intakes to cater to students’ needs.

Take the next step in your career with 51±¬ÁÏ

The study of business management comprises of various disciplines such as finance, human resources management, supply chain management and more. If you decide to pursue a business management degree, choosing an experienced and reliable educational partner will be crucial for a complete and well-rounded educational experience.

51±¬ÁÏ is a pioneer in the private education sector, and an advocate for lifelong learning. Constantly developing and upgrading its programmes with renowned universities from the UK and the US, 51±¬ÁÏ ensures that students receive a well-credited education with global relevance. Contact our consultants today for any enquiries; they will gladly assist you.

If you are a fresh graduate, a job seeker, or maybe you are contemplating furthering your studies, it is important to understand the current job market and hiring trends and plan your career path wisely. By doing so, you can work towards achieving your desired income and perhaps, earning yourself a career in one of the highest paying jobs in Singapore.

Overview of jobs in Singapore with high salary

In Singapore, some of the growth sectors with high salary package includes Finance, Healthcare, Technology and Business. 

Since the Covid-19 pandemic, the labour markets were disrupted significantly, with noticeably shifting demands to the job markets and industries in Singapore.

Some of the sectors were hit hard by the effects of the pandemic, while others were able to withstand or even thrive in the difficult times. Despite uncertainties that remain in the job market and elevated unemployment rates¹, it is sensible for anyone to change jobs and re-evaluate his/her career path during a crisis. Afterall, many growth sectors will continue to hire whether the Covid-19 pandemic will remain or not.

Should a high salary be an important consideration?

Voted as one of the highest cost of living countries in the world², it is true that a high salary in Singapore will be able to help you cope with the urban lifestyle expenses and high standard of living.

However, a high paying job usually means that a certain level of education certification and experience, especially for specialised sectors like healthcare. It is therefore important for you to plan your career path early and understand what you would like to achieve in life.

The best-paying jobs and salaries in Singapore

To help you plan and better understand some of the highest paying jobs and industries in Singapore, the below table shows the list of our top 10 jobs with high salaries.

What degree pays the most for new graduates in Singapore?

1.  Technology 

The Information Technology and Computer sector is one of the highest paying industries for fresh graduates and could be one of the best to start if you are going after a high paying job.

Having an interest in computers and technology is essential for this industry – and a specialised field like IT will require you to have a related degree.

Many companies are adapting to a new digital future, which has driven a demand for IT professionals who are equipped with in-demand skills in areas of Cybersecurity, Networking Technology and Database Systems. According to Salary Explorer³, a specialist with Ethical Hacking skill typically earns an income of around $6,800 per month.

A fresh graduate in the Technology field can take back an average salary of about $3,005 per month or about $39k per annum.

2.  Financial Services 

A financial hub is a city in which a large amount of financial transaction takes place. The Global Financial Centres Index ranks Singapore at the 6^th spot for the Top Ten Global Financial Centres.

With the Monetary Authority of Singapore’s announcement in the issuance of four digital banking licenses⁴ in December last year, we can expect to see more hiring in the financial sector subsequently. Expected demand in job roles for this sector include operational risk, compliance, and financial analysis.

As a globally recognised, vibrant and competitive financial market, a fresh graduate in financial service can earn about $3110 per month or $40k per annum in Singapore.

3.  Business & Sales 

The Business and Sales unit in a company plays a vital role in driving revenue in the company. A business degree often offers a myriad of career choices and opportunities for fresh graduates, including Business Administration, Marketing and Sales. The entry-level salary for business and sales estimates around $3,000 per month, or $39k per annum. Do note that this depends on the industries as well.

4.  Engineering

With so many different types of engineering to choose from, including electrical and electronics, mechanical, construction, and many more, the role of engineers is important and in-demand across all industries.

Some of the in-demand skills and qualifications in emerging jobs of engineering hiring include Robotics Technology and Internet-of-Things (IoT). According to Salary Explorer⁵, a robotic engineer working in Singapore can earn around $8,230 per month depending on years of professional experience and education qualification.

With an estimated salary of about $2,700 per month, or $35k per annum for fresh graduates, the opportunities for engineers are wide-ranging and offer career progression and prospects.

5.  Healthcare

Local entry-level registered nurses currently take home about $3,300 per month or around $43k per annum.

Since the pandemic, the shortage of trained healthcare professionals has been magnified. The Singapore government is working to retain healthcare professionals by increasing their pay, to ensure competitiveness for the workforce.

With the opportunities and demand ahead in the healthcare sector, many are now considering a healthcare career. Whether a student looking to enter the industry, an existing medical professional looking to upskill for career progression, or even a mid-career switcher.

Interestingly, in comparison to other professions, a career in nursing is more versatile as nursing skills are always in high demand almost everywhere in the world. Therefore, it provides a greater opportunity if you aspire to work overseas in the future.

It is important to remember that as a specialised industry, having relevant education and qualifications is required for this industry.

Local institutions such as the 51±¬ÁÏ School of Health and Nursing offer a clear progressive educational path for anyone looking to work in the healthcare industry.

Some of the programmes include:

• Master of Business Administration (Health Management)
• Master of Public Health  
• Master of Science Healthcare Management
• Bachelor of Science Nursing (Top-up) 
• Bachelor of Science (Hons) in Nutrition Science  
• Bachelor of Science (Hons) Healthcare Management

What’s Next

With the ever-changing landscape in the job market, it is critical to know and understand what kind of industries you want to go into. Keeping this in mind, it will be much easier to gear yourself towards the right education path and choose your specialisation.

Fresh graduates and job seekers may be faced with uncertainties, but it is still possible for you to land your dream job if you keep this in mind:

• Be well-prepared
• Equip yourself with the right skills
• Know your worth

And lastly, stay positive and keep working towards your goals!

For more information on the courses and various educational paths, visit the 51±¬ÁÏ website to find out more.

Source:

¹ Ministry of Manpower, 2021, Labour Market Statistical Information, Summary Table: Unemployment (Q3 2020).

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The business world of today is extremely competitive. Education is the key in providing opportunities. An MBA signals potential employers that you are a capable asset anddetermined to succeed with your leadership, decision making and strategic skills that an MBA provides.

In this article, I will be sharing 5 reasons on why studying in 51±¬ÁÏ for an MBA benefits your career.

1. Progression

An MBA is a Master’s Degree designed to specifically improve on the skills and knowledge of an individual in the areas of business and management. With an MBA, you will have more opportunities for career progression. Many senior roles in organisations will prefer (or have it as a pre-requisite) for the employee to possess an MBA.

2. Business Management Skills

In the increasingly competitive global environment, employees are increasingly faced with complex problems. Such issues oftenrequire understanding of various business functions to effectively tackle. An MBA equips you with such knowledge. Most MBAprogrammesencompass multiple disciplines for a good understanding of various business operations. Graduates of an MBA programmeare seen as successful individuals who possess relevant business knowledge and skills that are effective. These are gained through academic disciplines, combined with business experience and research from public/private sectors from their MBA programme.

3. Networking

When you enroll yourself in an MBA programme, it opens you up to many networking opportunities. Your fellow students are usually like-minded and as driven as you are. Your professors and teaching staff are also a valuable network as they can help increase your business management skills or give valuable advice based on their vast experience. When you graduate, you become a part of an extensive alumninetwork of your programme. These connections will likely come in handy in time during your career journey when faced with issues or requiring opportunities.

4. Credentials

People are increasingly well-educated and degree holders are a dime a dozen these days. With an MBA, you are acknowledged with increased credibility among business people or potential employers, regardless of location. Your MBA is a signal for proven versatility. You have the ticket, skills and knowledge to pursue many career fields.

5. Earning Potential

For many, besides the opportunities for progression, the motivation to pursue an MBA would be the increase of income. With an MBA, it opens up career advancement opportunities that can drive your salary increases upwards.

After completing an MBA degree, a graduate is certified in all known core areas or at least some major managerial roles within an establishment. This degree is one that is highly recognizable throughout the world. It can be used to pursue other career fields since it is highly compatible with other degree programs.

The 51±¬ÁÏ Business School (MBS) is the largest and most established school within the Management Development Institute of Singapore. 51±¬ÁÏ offers the following MBA programmes in Singapore with our university partners.

• Master of Business Administration in Banking and Finance – Awarded by Bangor University, UK
• Master of Business Administration in International Marketing – Awarded by Bangor University, UK
• Master of Business Administration – Awarded by the University of Sunderland, UK
• Master in International Business – Awarded by Grenoble Graduate School of Business, France

For more information on the programmes, visit /schools/mdis-business-school